Half of the consumers who responded to a quarterly NAR survey in Q1 2016 said that home prices had increased in the last year. By Q1 2017, that share rose to 60 percent.
The Economists’ Outlook blog released the results of the most recent Housing Opportunities and Market Experience (HOME) survey, which tracked consumers’ thoughts about the housing market.
The report found increases in the shares of consumers who said that it was a good time to sell and who said that home prices were rising.
Consumers’ view of the economy has also improved in the last year. In Q1 of 2016, just under half of all respondents felt that the economy was improving at 48 percent. In Q1 of 2017, that number jumps up to 62 percent of consumers that feel the economy is improving.